Distributions of Excess Funds Sample Clauses

Distributions of Excess Funds. If a Business Park is damaged or adversely affected by an infrastructure failure, a severe natural occurrence, or an event that results in a state or local authority declaring a state of emergency, the Authority and the Board may seek additional appropriations to repair or make whole the damaged Business Park in the manner provided in this Section 2.03. The Parties agree that distributions pursuant to this Section shall only be made after all legal obligations of the Authority are satisfied and all existing commitments are fulfilled. Subject to the foregoing, the Authority shall maintain the amount of funds necessary for the planning, development, acquisition, construction, financing, implementation, management, and promotion of Business Parks as determined by the Board. Among its operating expenses, the Authority shall appropriate jointly to the Host County and Host City a percentage of net revenues collected on the Current Business Park as set forth in Exhibit B-1, which shall be reviewed by the Authority at least once every five (5) years to determine the correct Host County and Host City joint appropriation based upon the costs incurred by the Host County and Host City jointly for the provision of local services to the Current Business Park. Any excess funds in a particular Fiscal Year shall be distributed by the Board among the Parties in accordance with their then applicable respective Share Percentages for each Business Park, in accordance with Exhibit B, on or before each May 1; provided, however, that the Authority may additionally reserve an amount up to 25% of its annual budgeted operating expenditures when determining any amount subject to distribution hereunder. A Party may refund its share of excess funds to the Authority at its sole discretion as authorized by its Governing Body; no such discretionary refund shall affect the Parties’ Share Percentages. At the end of each Fiscal Year, the Host County and Host City shall provide jointly to the Authority an accounting of the actual costs incurred by the Host County and Host City, including but not limited to the costs of providing fire, police, EMS, or other emergency services.
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Related to Distributions of Excess Funds

  • Payments From and after the Effective Date, the Administrative Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective Date and to the Assignee for amounts which have accrued from and after the Effective Date.

  • SAVINGS CLAUSE If this Agreement or any portion thereof shall be invalidated on any ground by any court of competent jurisdiction, then the Corporation shall nevertheless indemnify the Indemnitee as to Expenses, judgments, fines, penalties and amounts paid in settlement with respect to any Proceeding to the full extent permitted by any applicable portion of this Agreement that shall not have been invalidated and to the fullest extent permitted by applicable law.

  • Deposit A deposit totaling 35% of the agreed upon Total Amount is due with acceptance of rental agreement. Payment of deposit shall be deemed as acceptance of this rental agreement. Payment may be made by traveler's checks, bank money order, wire transfer, or certified check or major credit card. Personal checks will be accepted upon approval; if funds are not credited within Ten days booking will be cancelled. The deposit amount is $_DepositAmount_.

  • Payment Subject to the provisions of the Warrant and this Agreement, a Warrant may be exercised by the Registered Holder thereof by delivering to the Warrant Agent at its corporate trust department (i) the Definitive Warrant Certificate evidencing the Warrants to be exercised, or, in the case of a Warrant represented by a book-entry, the Warrants to be exercised (the “Book-Entry Warrants”) on the records of the Depositary to an account of the Warrant Agent at the Depositary designated for such purposes in writing by the Warrant Agent to the Depositary from time to time, (ii) an election to purchase (“Election to Purchase”) any Ordinary Shares pursuant to the exercise of a Warrant, properly completed and executed by the Registered Holder on the reverse of the Definitive Warrant Certificate or, in the case of a Book-Entry Warrant, properly delivered by the Participant in accordance with the Depositary’s procedures, and (iii) the payment in full of the Warrant Price for each Ordinary Share as to which the Warrant is exercised and any and all applicable taxes due in connection with the exercise of the Warrant, the exchange of the Warrant for the Ordinary Shares and the issuance of such Ordinary Shares, as follows:

  • Third Party Beneficiaries This Agreement is intended for the benefit of the parties hereto and their respective permitted successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

  • Salaries wages and other similar remuneration, other than a pension, paid by a Contracting State or a political subdivision or a local authority thereof to an individual in respect of services rendered to that State or subdivision or authority shall be taxable only in that State.

  • Payment of Wages 28.1 All wages, allowances and other monies may be paid by electronic funds transfer which Employee(s) may request be split between up to two accounts.

  • Life Insurance No portion of your IRA may be invested in life insurance contracts.

  • No Third-Party Beneficiaries This Agreement is intended for the benefit of the parties hereto and their respective permitted successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

  • Retirement Retirement" shall mean voluntary termination by the Executive in accordance with the Employers' retirement policies, including early retirement, generally applicable to their salaried employees.

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